Unusual items affecting the current period's income statement consist of changes in accounting principles and discontinued operations.

Question

Quizplus · Accepted Answer

Unusual items affecting the current period's income statement typically include one-time events such as restructuring costs, impairments, or gains/losses from asset sales, but not changes in accounting principles. Changes in accounting principles are accounted for retrospectively, not as items in the current period's income statement.

Unusual Items Affecting the Current Period's Income Statement Consist of Changes